NY Times - Ex-Morgan Stanley man to revive Phibro

Oil Drums

Oil prices may be depressed, but they have not stopped the longtime commodities trader Phibro from being resurrected.

The New York Times reports that Simon Greenshields, the former co-head of Morgan Stanley’s commodities business, acquired the Phibro name and assets related to its now defunct trading business, said his firm, Energy Arbitrage Partners, in a statement on Tuesday. Mr. Greenshields plans to start a new Phibro business that focuses on acquiring and developing commodity assets, as well as trading. He will become the chief executive and president.

Phibro, which began in 1901 as Philipp Brothers, had its share of ups and downs before it shuttered trading operations in the United States a year ago. The firm was a commodities trading powerhouse in the 1980s, acquiring Salomon Brothers, which later merged with what is now Citigroup.

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Former Morgan Stanley Banker to Revive Phibro Name

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